From Business24-7.ae: Ratings agency Standard & Poor's (S&P) yesterday said that for the first time it assigned a rating to a Shariah fund, in a bid to boost transparency in an industry that has come under fire after some recent defaults.
S&P said it assigned a "AAf/S1+" fund credit and volatility rating to a Luxembourg-based, US dollar-dominated fund managed by European Finance House, a subsidiary of Qatar Islamic Bank, one of the Gulf's biggest banks by market value. ...........................................Full Article: Source